Original Medicare is the closest to the basic structure created when Medicare was signed into law in July of 1965 and the coverage you will be assigned unless you choose another option (Medicare Advantage – Part C). Delivery of Medicare benefits is divided into Part A (inpatient hospital care) and Part B (outpatient medical care).
One of the ways Medicare Advantage Plans control costs is by requiring the participant to utilize health care providers within a network in the HMO/PPO format. This can limit your ability to have coverage outside your network’s geographical boundaries. But with many national health insurance companies, travel may be less restrictive.
Medicare Supplment (or Medigap) is an insurance plan that you can purchase to help you cover costs that your Original Medicare plan may have missed. These gaps in coverage include a sizeable Part A deductible that could be your responsibility several times per year (depending on the circumstances), as well as coinsurance, copayments, and excess charges. These can add up to thousands of dollars a year in the event of a serious illness, injury, or chronic condition.
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